Stock Market Today: Live Updates

Stock futures fell lower in overnight trading Thursday after the S&P 500 hit a closing record following President Donald Trump’s call to cut interest rates and crude prices.

Futures on the Dow Jones Industrial Average dipped 22 points. S&P 500 Futures And NASDAQ 100 FUTURES Both fell by around 0.1%. Earlier, the S&P 500 marked its first record close since December 6.

Stocks got a boost Thursday after Trump said he was “demanding that interest rates come down immediately” as he addressed world leaders in Davos, Switzerland. The president also said he would ask Saudi Arabia and other OPEC nations to reduce the price of oil.

“Trump’s Davos speech contained ostensibly positive lines (he called on OPEC to cut oil prices, demanded central banks lower interest rates and reiterated previous commitments to cut taxes and regulation), but there was very little progress or under its control,” Adam Crisafulli, founder of Vital Knowledge, said in a note.

Optimism toward Trump’s pro-business policies pushed risk assets higher this week after his inauguration. Investors were also relieved that there were only threats on Trump’s tariff front, instead of formal action during his first days in the White House.

All three major averages are on track to post their second positive week. THE Dow And the S&P 500 gained 2.5% and 2% respectively Nasdaq Composite is up about 2.2%.

Investors are keeping an eye on the 10-year Treasury yieldwhich grew on the back of strong corporate revenues. BlackRock CEO Larry Fink said Thursday that Trump’s efforts to free up capital in the private sector could put inflationary pressures and prompt the benchmark 10-year rate to retain the 5% level.

“The better growth we are seeing in corporate America may contribute to the ability of 10-year yields to find a bottom for now,” Chris Hussey, managing director at Goldman Sachs, said in a note to clients.